Montana licensed 47 new captives in 2013, bringing the state’s total entities to 150.
Among the new entities licensed in 2013 were 25 captive reinsurance companies, 18 pure captives, two series LLC captives, one protected cell company (PCC), and one risk retention group (RRG).
Last year also saw the state lose 11 captives, according to the Montana Captive Insurance Association 2013 Domicile Report.
“During the 2013 legislative session, Montana’s law makers continued their overwhelming support of captive insurance by passing legislation to keep Montana at the forefront of competing domiciles,” wrote Montana commissioner of securities and insurance Monica Lindeen in the report’s foreword.
“Key items include series LLC capability for protected cells and additional manpower for our regulatory team.”
Of the 150 captives licensed in Montana, 91 are pure captives, 17 are RRGs, 31 are reinsurance captives, seven are PCCs, two are association reciprocal captives, and two are series LCC captives.
The sate also collected more than $1.3 million in premium taxes last year.
